Fidelity Fellowship Profiles

The 2013-2014 Fidelity Fellow in Equity Compensation Research

Yael Hochberg, the Fidelity Fellow in Equity Compensation Research, will explore stock option and restricted stock compensation in startup companies over their maturation into their growth and expansion stages and how incentive compensation for employees changes as startups transition into their publicly-traded phase. This research will also explore the effects of stock option compensation (and how broadly it is granted) on employee retention and startup output and performance, and differences in compensation practices across startups with different types of financing structures. For 2013-2014, Hochberg will be Visiting Associate Professor of Finance at MIT's Sloan School of Management. Prior to joining MIT, Hochberg was on the faculty at the Kellogg School of Management at Northwestern University and the S. C. Johnson Graduate School of Management at Cornell University. She has a doctorate in finance from Stanford University.

The 2012-2013 Fidelity Fellow in Equity Compensation Research

Ilona Babenko, the Fidelity Fellow in Equity Compensation Research, is exploring what factors motivate employee participation in Employee Stock Purchase Plans. She is an assistant professor of finance at the Arizona State University Carey School of Business with a doctorate in economics from the University of California at Berkeley.